pennant

n.

1. Nautical. A long, tapering, usually triangular flag, used on ships for signaling or identification.
2. A flag or an emblem similar in shape to a ship's pennant.
3. Sports.
   1. A flag that symbolizes the championship of a league, especially a professional baseball league.
   2. The championship symbolized by such a flag.

[Blend of PENDANT¹ and PENNON.]

A continuation pattern in technical analysis formed when there is a large movement in a stock, the flagpole, followed by a consolidation period with converging trendlines, the pennant, followed by a breakout movement in the same direction as the initial large movement, the second half of the flagpole.



As can be seen in the above picture, there is a large rise in the stock, followed by a converging consolidation period that resembles a pennant and a resulting continuation of the initial trend.

Investopedia Says:
Pennants, which are similar to flags in terms of structure, have converging trendlines during their consolidation period and they last from one to three weeks. The volume at each period of the pennant is also important. The initial move must be met with large volume while the pennant should have weakening volume, followed by a large increase in volume during the breakout.

Related Links:
Here we pay some attention to the triangle, usually one of the first chart patterns that a novice technician learns. Continuation Patterns - Part 1
Take a closer look at triangles, which appear in ascending, descending and symmetrical forms Continuation Patterns - Part 2
Take a closer look at Ascending and Descending Triangles. Continuation Patterns - Part 3
Take a closer look at flags and pennants, which show a very short pause in the trading activity of the prevailing trend. Continuation Patterns - Part 4

Technical chart pattern resembling a pointed flag, with the point facing to the right. Unlike a Flag pattern, in which rallies and peaks occur in a uniform range, it is formed as the rallies and peaks that give it its shape become less pronounced. A pennant is also characterized by diminishing trade volume. With these differences, this pattern has essentially the same significance as a flag; that is, prices will rise or fall sharply once the pattern is complete.

noun

Fabric used especially as a symbol: banderole, banner, banneret, color (used in plural), ensign, flag¹, jack, oriflamme, pennon, standard, streamer. See substitute.

n. 1. a tapering flag on a ship, especially one flown at the masthead of a vessel in commission.

2. a long triangular or swallow-tailed flag, especially as the military ensign of lancer regiments.

3. a short rope or pendant hanging from the head of a ship's mast.

See the Introduction, Abbreviations and Pronunciation for further details.

IN BRIEF: A flag that serves as a symbol of championship. Also: A long, tapering flag.

It's hard to win a pennant, but it's harder to lose one. — Chuck Tanner

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Dansk (Danish)
n. - vimpel, stander, nodefane

Nederlands (Dutch)
vaantje, schinkel (op schip), vlag/wimpel, vlag van kampioenschap

Français (French)
n. - flamme, fanion, (US, Sport) championnat

Deutsch (German)
n. - Wimpel

Ελληνική (Greek)
n. - (ναυτ.) επισείων, φιλάνδρα, τριγωνική σημαία

Italiano (Italian)
pennone

Português (Portuguese)
n. - flâmula (f)

Русский (Russian)
знамя, вымпел

Español (Spanish)
n. - banderín, gallardete, grímpola

Svenska (Swedish)
n. - vimpel, standert (sjö.)

中文（简体）(Chinese (Simplified))
细长三角旗, 奖旗, 冠军旗, 符尾

中文（繁體）(Chinese (Traditional))
n. - 細長三角旗, 獎旗, 冠軍旗, 符尾

한국어 (Korean)
n. - (근무중의 군함에 달아 그 임무나 사령관의 지위를 나타내는) 장기, (아래 돛대의 꼭대기에서 드리운) 짧은 밧줄, 우승기

日本語 (Japanese)
n. - 長旗, ペナント, 優勝旗, 応援旗

العربيه (Arabic)
‏(الاسم) رايه مستطيله ترفع على السفن‏

עברית (Hebrew)
n. - ‮נס, דגל‬

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